Stock Market Today: Netflix's Epic Crash Clips Nasdaq
The earnings calendar was front and center Wednesday as a mixed session for the broader indexes was easily overshadowed by a plunge in of Wall Street's most notable mega-caps.
Netflix (NFLX) suffered its worst single-day decline in 18 years – a 35.1% nosedive eroding roughly $55 billion in market value – triggered by the company's first quarterly subscriber loss since 2011.
The streaming giant, which expected to add 2.5 million net subscribers during the, which cost it 700,000 subscribers, but inflation is also forcing customers worldwide to make tougher spending choices.
